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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 04:00 UTC+0.0206%/8h= +22.6% APRpaid last 24h −0.001%
Price spread now: MEXC against Phemex+0.045%7-day average −0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$430.432% of the position
Long on PhemexShort on MEXC
What this pair did over the last
the charts below follow
Funding, last 7 days−0.014%−$1 on $10k
Price spread, last 3 days (all we have)−0.032%−$3 · spread now +0.045%, 7d avg −0.002%
Together, before fees−0.046%−$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and MEXC is 0.047% dearer against Phemex than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.002%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.014% in total (about -0.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex HYPEUSDT93.853−0.0138get 0.0138% / 8h6h 22m$12.7M$2.7M50x
ShortMEXC HYPE_USDT93.8950.0068get 0.0034% / 4h2h 22m$87.9M$82.9M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

MEXC against Phemex. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$43.31
Price spread: +0.045% → −0.002%
$4.71
Slippage, 4 orders
−$27.23
Fee Phemex: 6 bp × 2 orders
−$12
Fee MEXC: 2 bp × 2 orders
−$4
Net
$4.79
Costs to cover
0.432%
Break-even
6.2 days
Slippage from Phemex: live order book, 6 min ago; MEXC: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 6 min ago2.51 bp22.8 bp −$2337.4 bp −$374doesn't fitdoesn't fit
Sell MEXC live order book, 1 min ago0.05 bp2.1 bp −$22.8 bp −$2810.9 bp −$1,08635.9 bp −$17.9K

HYPE on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1000%1h93.698−0.165%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.765−0.094%$1.2M$3.8M10xas long as short
Phemex HYPEUSDTlong−0.0138%8h93.853long leg$12.7M$2.7M50x
Aftermath Perps HYPEUSD−0.0129%1h93.810−0.046%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.875+0.023%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0076%1h93.850−0.003%$703K$924K10xas long as short
Orderly PERP_HYPE_USDC−0.0056%4h93.787−0.070%$156K$646K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.912+0.063%$85K$350K20xas long as short
Backpack HYPE_USDC_PERP−0.0035%1h93.796−0.061%$7.8M$10.3M20xas long as short
Gate HYPE_USDT−0.0028%4h93.889+0.038%$44.5M$55.1M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX HYPE-USDT−0.0002%4h93.884+0.033%—$53.6M—as long as short
Aster HYPEUSDT−0.0002%4h93.885+0.034%$8.9M$35.8M300xas long as short
dYdX HYPE-USD0.0000%1h93.844−0.009%$129K$31K5xas long as short
Perpl HYPE0.0000%43m93.859+0.006%$22K$326K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.822−0.034%$26K—150xas long as short
Bybit HYPEUSDT+0.0003%8h93.890+0.039%$322.4M$281.0M75xas long as short
Phoenix HYPE+0.0060%1h93.922+0.074%$213K$1.2M10xas long as short
MEXC HYPE_USDTshort+0.0068%4h93.895+0.045%$87.9M$82.9M100x
Binance HYPEUSDT+0.0069%4h93.903+0.053%$382.2M$891.5M75xas long as short
OKX HYPE-USDT-SWAP+0.0069%8h93.875+0.023%$115.4M$308.4M50xas long as short
Bullet HYPE-USD+0.0074%1h93.819−0.036%$112K$577K20xas long as short
edgeX HYPEUSDC+0.0079%4h93.907+0.057%$5.1M$29.9M30xas long as short
Paradex HYPE-USD-PERP+0.0095%8h93.934+0.086%$341K$164K20xas long as short
Lighter HYPE+0.0096%1h93.912+0.063%$16.4M$62.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.909+0.060%$3.1M$11.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.887+0.036%$67K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.812−0.043%$399K$175K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.890+0.039%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.876+0.025%$5.8M$44.8M10xas long as short
Hyperliquid HYPE+0.0100%1h93.987+0.143%$2.05B$665.6M10xas long as short
Pacifica HYPE+0.0100%1h93.917+0.068%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.919+0.070%$46.5M$18.0M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.893+0.043%$227.5M$98.4M75xas long as short
Variational Omni HYPE+0.0100%8h93.910+0.060%$31.1M$54.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.947+0.100%$7.6M$47.2M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.891+0.040%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.836−0.018%$670K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.901+0.051%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.868+0.016%$474K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.774−0.084%$79K$171K20xas long as short
Derive HYPE-PERP+0.0100%1h93.787−0.071%$16.3M$7.7M10xas long as short
SunX HYPE-USDT+0.0100%4h93.947+0.100%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.798−0.059%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.880+0.029%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.848−0.005%$18.3M$44.2M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.920+0.071%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.800−0.056%$30K$339K12xas long as short
HTX HYPE-USDT+0.0205%4h93.976+0.131%$1.4M$5.9M75xas long as short
RISEx HYPE/USDC+0.0210%1h93.962+0.116%$3.2M$7.0M20xas long as short
Reya HYPERUSDPERP+0.0255%1h93.820−0.035%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0276%8h93.905+0.055%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.836−0.018%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0389%1h93.897+0.047%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0679%1h93.902+0.052%$21.0M$29.8M50xas long as short